Increase in Russian Gold Output
Source: World Gold Council (5/26/09)
". . .output was up nearly 38%. . ."
According to Reuters, figures from the Russian Gold Industrialists' Union showed that output was up nearly 38%, while the first three months alone saw a 42% boost.
New ore processing capacities were cited as a major factor in this, with a total of 43.28 tons having been produced. This was compared to an output level of 31.41 tons for the same period in 2008.
Earlier this year, the Russian Gold Industrialists' Union predicted that there would be an overall increase in production of 8% in 2009, with this coming after five years of decline.